Hardware wallets compared and reviewed

Last updated: 10.4.18

By now you probably know that the most secure way you can store your Bitcoins and other cryptocurrencies is through the use of hardware wallets.

Review summary

Hardware wallets use a form of 2 factor authentication (also known as 2FA). This mean that in order to access your funds you’ll need to prove your identity through something you have (the physical wallet) and something you know (the PIN code for the wallet). If you’re serious about Bitcoin and cryptocurrency security in general, you need to get a hardware wallet, I personally have 3 different ones.

Bitcoin hardware wallet sizes

5 different hardware wallets: BitLox, KeepKey, TREZOR One, Ledger Nano S, CoolWallet

Today I want to take the opportunity and list who I think are the best Bitcoin hardware wallets on the market. Keep in mind that the top 3 Bitcoin hardware wallets I will present are all great products. The difference between 1st, 2nd and 3rd place is somewhat minor as you’ll see soon enough.

Ledger Nano S
Supported Coins:
Multiple
price:
$99
Overall rating:
5 Star Rating
Trezor One
Supported Coins:
Multiple
price:
$80
Overall rating:
4.5 Star Rating
Keepkey
Supported Coins:
Multiple
price:
$129
Overall rating:
4 Star Rating
Trezor T
Supported Coins:
Multiple
price:
$170
Overall rating:
4 Star Rating
SafeT-Mini
Supported Coins:
Multiple
price:
$49
Overall rating:
3.5 Star Rating
CoolWallet
Supported Coins:
Multiple
price:
$99
Overall rating:
3 Star Rating

For a full review of each of the wallets keep reading this post. Here’s what we’ll go over:

  1. Ledger Nano S
  2. TREZOR one
  3. KeepKey
  4. TREZOR T
  5. Archos Safe-T Mini
  6. Additional hardware wallets
  7. Conclusion – Who is the winner?

Want to know more about Cryptocurrency wallets? Watch our video guide


#1 – Ledger Nano S hardware wallet

Pros: Easy to use, great company reputation, wide support of coins

Cons: None yet

Overall rating: 5 stars

I’ve reviewed the Ledger Nano S not long ago and was absolutely impressed. The company, that used to be the second runner up in the hardware wallet race seemed to have matched it’s main opponent TREZOR.

The Nano S has a sleek design, intuitive user interface and a wide support of altcoins (over 30 in total including Ethereum, Litecoin, Dogecoin, Zcash, Dash, Ripple and most ERC-20 tokens). At the moment the Nano S sells for $99 making it an affordable hardware wallet although somewhat more expensive than the competition.

ledger nano s review

You can access you ledger wallet through Ledger Live – a free desktop application that allows you to control all of your ledger devices, send and receive cryptocurrencies and check your balance whenever you want.

The company (LedgerWallet) has been around long enough to gain a respectful reputation and in all honesty I couldn’t find anything bad to say about their product. Today I use the Ledger Nano S as one of my personal wallets.

Visit Ledger Read our review

#2 – TREZOR One hardware wallet

Pros: A market veteran, great company reputation, low price tag

Cons: Frequently resets when upgrading, Ripple not supported

Overall rating: 4.5 stars

Aside from using the Ledger Nano S I also use a TREZOR for storing cryptocurrencies. The “TREZOR one” (formerly known just as “TREZOR”) is the oldest hardware wallet on the market and probably the most reputable one as well.

The TREZOR one has a nice, simple design, a very easy to understand user interface, and it supports Bitcoin, Bitcoin Cash, Bitcoin Gold, Zcash, Dash, Ethereum, Ethereum classic, Litecoin and NEM. The only coin which is missing and has gain massive public attention is Ripple (XRP).

trezor pin code device

The price on the TREZOR one is currently $80 making it one of the cheapest hardware wallet on the market. This is a great wallet and you can also read my full review of it here.

The main advantage TREZOR has over its competitors is the company reputation. One of the company’s founders is Marek “Slush” Palatinus, who also created the first mining pool for Bitcoin (founded in 2010).

On the downside, there is one annoying thing about TREZOR – When you upgrade the wallets firmware it frequently deletes the whole wallet. If you’re just starting out with crypto this can definitely freak you out. As long as you have your backup phrase around you can just restore the wallet, but this is definitely something to be aware of.

Visit TREZOR Read our review

#3 – KeepKey Bitcoin hardware wallet

Pros: Beautifully designed, in-wallet exchange via Shapeshift

Cons: High price tag

Overall rating: 4 stars

Coming in 3rd place we have Keepkey, a Bitcoin hardware wallet with a beautiful though somewhat large design. Keepkey has similar features to TREZOR one and the Ledger Nano S, however for several reasons I find it a bit less attractive than the previous two.

KeepKey

For starters, the wallet is too big for carrying in your pocket conveniently.  The size of the Keepkey wallet is almost twice of the TREZOR one or Ledger Nano S.

Additional things that make me hesitate regarding buying the product are:

  • I have written to their support several times but haven’t gotten a response yet.
  • Some bad reviews on Amazon regarding the product and the company’s support.

On the bright side, Keepkey supports a wide variety of altcoins including Bitcoin, Litecoin, Dogecoin, Namecoin, Testnet, Ethereum, and Dash. The wallet also incorporates an in-wallet exchange that allows you to trade one crypto for another without using an external exchange.

Keepkey currently sells for $129 and is the most expensive option of all top 3 wallets.

Buy Bitcoins on BitBay Read our review

#4 – TREZOR T hardware wallet

Pros: Built in touch screen, great company reputation

Cons: High price tag

Overall rating: 4 stars

The TREZOR T is basically a TREZOR One wallet that has a large touch screen. Both wallets offer the same features, but the touch screen does make a difference. I’ll explain.

When you restore your hardware wallet or even set it up for the first time, you are often requested to enter your seed phrase. If you do not have a suitable interface on your hardware wallet (i.e. a touch screen), you will need to type in your seed phrase on your computer.

TREZOR model T

If your computer is infected with malware this makes your seed phrase vulnerable to key logging or other forms of hacking. Having said that, even if someone managed to get the words to your seed phrase the still won’t know what order to put them in since that is not displayed on your computer (it’s displayed on the hardware wallet).

The Trezor T eliminates this threat completely since all interaction is done on the hardware wallet’s touch screen so you don’t need to be afraid of malware (these devices are malware free by design).

To sum it up, I’m not sure that the touchscreen functionality and some other minor add ons are worth almost twice the price of a TREZOR One, so at the moment I’m holding on to my TREZOR One.

The TREZOR T model costs 149 Euros ($170) when VAT is excluded.

Visit TREZOR Read our review

#5 – Archos Safe-T mini hardware wallet

Pros: Extremely affordable, easy setup

Cons: Basic coin support, new player in the field of cryptocurrency

Overall rating: 3.5 stars

Archos  is a French multinational electronics company that was established in 1988 by Henri Crohas. Archos manufactures tablets, smartphones, portable media players and portable data storage devices. It recently got into the field of hardware wallets and has now introduced the Safe-T mini hardware wallet.

archos safe-t

The wallet is your basic version of a hardware wallet. It acts as a basic 2FA device that also holds your private key but that’s about it. The Safe-T mini’s interface is extremely limited and in order to send / receive coins you will need to use additional software. For example, to send / receive Bitcoin you will need to use Electrum.

Priced at around $50, the Safe-T mini acts as an affordable alternative to the more expensive hardware wallets. However, taking into account that the company is relatively new to the cryptocurrency space, I suggest putting an additional $30 and going with the battle tested TREZOR One.

Visit Archos Review coming soon

Additional hardware wallets on the market

Throughout the last 2 years I’ve also explored some additional hardware wallets that didn’t make the top 5 list so I’d like to mention them here.

Bitfi is a hardware wallet that is owned by John Mcafee, a controversial figure in the cryptocurrency space. The wallet originally claimed to be “unhackable”, however after it was torn a apart by security researchers and several security flaws where exposed it removed that claim.

CoolWallet is a credit card looking hardware wallet that you can carry around in your pocket. My review of Coolwallet was positive, however the wallet hasn’t gained enough market share in order for me to consider it a stable product. It’s the only hardware wallet around that supplies a dedicated app as a mobile interface.

BitLox is another hardware wallet I reviewed, however it was in early stages and I couldn’t get it to work properly. I haven’t taken another look at the product since then (this was back in the beginning of 2016) and the product may have become more user friendly.


Conclusion – If you’re serious about crypto, get a hardware wallet

It doesn’t get any simpler than this headline. Yes, hardware wallets cost money and no one likes spending money on things they can get for free. But the amount of security you get by using a hardware wallet is much more valuable than the $50-$100 you’ll pay for purchasing the actual device.

In my opinion all of the options I reviewed in this post are a good choice but my personal favorites are the TREZOR One and the Ledger Nano S. Also, make sure to always buy the wallet directly from the company or from an authorized resellers. There have been many cases of fraud reported by people who bought hardware wallets on eBay and sometimes Amazon.

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Amy Michelle Mosier
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Amy Michelle Mosier

Just visited the Ledger Nano site. Looks like demand has made the price come down to $70 US. They have a Christmas sale too.

James
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James

Hello everyone!
For long-term storage I use cold wallet as Ledger and another currency (for trading) I keep on market.
For currency exchange I use BestChange website.
They convert USD-BTC-ETH and tons of it in seconds.
I know it’s not safe, but I keep your cold wallet without usage and that’s the biggest success for safety.

innocent ezekiel
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innocent ezekiel

How to get a wall and register for it ? If there no place of bitcoin exchange in my country what I do and how can I start buying bitcoin and where to get it

www.lamesheep.com
Guest
www.lamesheep.com

ledger nano ,keepkey and trezor are best hardware wallet to choose.But Ledger HW.1 is better compare to those . Ledger HW.1 is one of the best Bitcoin hardware wallets and it is portable and highly secure as well. The amazing device comes with the multi-signature feature so you can organize a transaction which requires more than one key. The device is of high quality and it is immune to any type of computer viruses or malware. It comes in three editions Classic, Multisig, and enterprise and you can buy whichever suits you and on top of that, they come with… Read more »

jagdish
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jagdish

I want to buy ledger nano s but heard about a story of a man who was duped by ebay reseller. so want to know from where should i buy ledger.
Can i trust their authorised reseller in my county?
or should i buy form their official website?
reseller costs me less money and time.
can anyone help please. Thanks

romgamer
Member
Member
romgamer

can anyone please explan me how to withdraw the bitcoin balance from this 99bitcoin site and my wallet address is
1N48i8n7VgYh3iGgNW1rrCMkL84FthbBBx
It will be very thankful to you

JustMeeh
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JustMeeh

I have been skulking through reviews on Amazon and the one consistent thing I have read on Ledger Nano S is that if you don’t make SURE you’re buying your Nano S from the “Ledger Wallet” store, you’re buying from a second party company AND there are folks who’ve found malware imbedded in the Nano itself. There are also a fair amount of folks that claimed the metal finish was scratched, smudged, etc which to them indicated that it seemed like someone BOUGHT it and it was returned….which also leaves the door WIDE open to the product having been messed… Read more »

BitHunter
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BitHunter

Uh, I think the prices are going to need to be updated on this article. I just went to purchase a Nano S. $140. Trezor $160. KeepKey $129.

Abdullah
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Abdullah

Hi! Which crytocurrency and which software is best for mining for an average computer.

ERod
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ERod

Having never bought any crypto, your site is helpful to get started. I know this post is 2 months old, but since Google has chosen to stop supporting Chrome Apps this year (2018), should I still invest in a Ledger NanoS? What is the downstream impact to those using it? Better alternatives given this news? Thanks in advance.